FOR ACCREDITED INVESTORS ONLY

One Portfolio. Multiple Return Drivers.

A Colorado-focused real estate fund integrating operating income and development within one portfolio — structured to generate current cash flow and long-term asset value across multiple execution timelines.

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CAPITAL STRUCTURE & ASSET ALLOCATION FRAMEWORK

A Diversified Income & Development Strategy

Built on 20+ years of development, entitlement, and operating experience across Colorado growth markets.

Arete integrates operating income and staged development within a single capital structure — reducing reliance on any one asset, timing window, or exit event.

Operating Income

Cash-flowing hospitality assets generating near-term operating revenue and portfolio stability, supported by diversified income streams and expansion capacity.

Build-to-Rent Development & Rental Operations

Entitled residential communities structured for phased build-out and long-term rental operations, benefiting from delivered infrastructure and basis-driven value positioning.

Commercial Parcel Optionality

Commercial development parcel within a growing Firestone residential community, positioned to serve ~1,000 planned rooftops. Infrastructure delivered in earlier phases reduces execution risk and supports long-term leasing flexibility.

WHY THIS STRUCTURE

Built for the Current Capital Environment

Single-outcome strategies are vulnerable to rate cycles and transaction slowdowns. A diversified, multi-asset structure provides flexibility across time horizons.

Near-Term Operating Income

Cash-flowing assets support extended hold periods and reduce pressure on forced exits.

Mid-Term Liquidity Pathways

Phased lot monetization creates value realization without requiring full-project sales.

Long-Term Rental Income & Appreciation

Stabilized Build-to-Rent communities generate recurring income and refinancing optionality.

The objective is structural balance — not reliance on a single timing event.

CURRENT PORTFOLIO

Salt & Acres

Operating Hospitality Estate | Fort Lupton, CO

‍Role: Stabilizing Operating Income / 45-acre hospitality estate including winery, tasting room, and event venue.

- Year-round revenue streams

- Proven demand exceeding current capacity

- Expansion designed to increase revenue capture

- Operating since 2023

The Vistas at Saddleback – Residential

Build-to-Rent Community | Firestone, CO

‍Role: Mid-Term Value Creation & Long-Term Rental Income

~190-unit Build-to-Rent phase within a four-phase master-planned community.

- $8M+ infrastructure delivered prior to vertical construction

- Land basis below appraised value

- Designed for stabilization, refinance, and eventual sale

- Positioned within one of Colorado’s strongest in-migration corridors

The Vistas at Saddleback – Commercial

Neighborhood Commercial Parcel | Firestone, CO

‍Role: Long-Term Optionality & Diversification

5.5-acre neighborhood commercial site within the master plan.

- Serves 1,000+ planned residential
rooftops

- Infrastructure delivered in earlier phases

-Commercial uses aligned with surrounding residential density

-Monetization aligned with residential stabilization

TEAM

Colorado Operators with Entitlement-First DNA

Directed $120M+ across development, construction, and capital allocation. Leads fund strategy and entitlement execution.

JOSH PATERSON

Managing Partner

Leads deal execution and scalable development platforms across Colorado submarkets.
‍

JUSTIN CARUSO

Partner

20+ years converting land into high-value residential communities across supply-constrained markets.

REX BRANDT

Partner

Leads marketing, investor communications, reporting, and capital coordination.

KATE ROBITELLO

VP, Marketing & Investor Relations

INSTITUTIONAL-GRADE PARTNERS BEHIND EVERY PHASE

Trusted Partners Behind Every Phase

From engineering and entitlements to master planning and construction,
Arete works with Colorado’s top consultants, the same teams trusted by the state’s largest developers.

R&R Engineers

Surveyors is a Denver-based civil engineering and surveying firm established in 1988. They’ve delivered thousands of projects across Colorado, offering site design, entitlement support, and construction documentation with deep knowledge of local municipalities.

Saddleback Golf Club

is an 18-hole championship course in Firestone, Colorado, designed by Andy Johnson. The club is a key partner in The Vistas at Saddleback project, working with Arete Real Estate to integrate the community’s design with the existing course. Together, the development and the club create a connected environment that blends residential living with established recreational amenities.

Manhard Consulting

is a national civil engineering and surveying firm with offices across the U.S. and a portfolio of more than 8,000 completed projects. Their Colorado team provides engineering, land planning, and construction management services for residential and mixed-use developments.

Piper Sandler

is a U.S.-based investment bank founded in 1895 with over 60 offices globally. They have advised on more than $40 billion in real-estate investment-banking transactions and $18 billion in housing financing alone. Their national platform supports development firms and private-capital sponsors with project capital, structured finance, and advisory solutions.

WBA PC

is a Colorado-based law firm founded in 1997 with offices in Colorado and Utah. The firm represents developers, metropolitan districts, and local governments on matters involving public finance, land use, and special district formation. Their team’s work spans entitlement, infrastructure funding, and long-term governance for large-scale community developments.

Lyons Gaddis, P.C.

is a Colorado law firm founded in 1972, with offices in Longmont and Loveland. The firm represents clients in real estate, land use, water rights, and government law, providing legal counsel on entitlements, development agreements, and municipal coordination.